Gold Miner Allied Nevada Can Pay Bonuses of $1.4 Million to 95 Employees

Allied Nevada Gold Corp., the bankrupt owner of the Hycroft gold and silver mine, can pay incentive bonuses to 95 key employees upon the achievement of specified goals (In re Allied Nevada Gold Corp., Bankr. D. Del., 15-10503, motion granted 5/28/15).

A judge in Delaware signed an order May 28 approving the incentive program for non-insider employees. It replicates a pre-bankruptcy annual cash bonus program but modifies the goals and timing of payment, according to court papers.

To provide incentives for key employees to achieve critical goals on an expedited timeframe, Allied had requested to make payments ...